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With globalism, there isn't really a country with middle class... it all tends to equilibrate over time, with a "world" with a middle class... unfortunately, the world is predominantly poor which means the US middle class has one way to go... down...
Of course not, because of conservative politics and Reaganomics over the past 3 decades. Yet, they still think austerity and tax cutting is the way to go.
Let's see here, the poor pay no federal income tax (well, nearly half the country pays no federal income tax), and the very rich get so many tax breaks that they pay a lower rate than most of the middle class, and you think the answer is to raise taxes on the middle class?
This is the effect of global capitalism, automation and the failure to keep up with skills needed for a good job. Americans have been reluctant to adapt to the global economy, except for limited "global awareness" that is pretty empty. Americans have become a "soft people" with warm and fuzzy politics, uncompetitive skill sets, and a vision of a world that is no more.
What exactly surprises you? The American middle class will not only be less wealthy. It will not even be the largest in the world. China will have the largest middle class in human history.
There are four Chinese people for every one American. As far as I'm concerned, they are more than welcome to "win" the population game and have the most people in any category you can think of. I don't want to live in a country that has anywhere near as many people at they do
Let's see here, the poor pay no federal income tax (well, nearly half the country pays no federal income tax), and the very rich get so many tax breaks that they pay a lower rate than most of the middle class, and you think the answer is to raise taxes on the middle class?
"Hey, we're almost out of gas."
"Well, pour the rest out and we'll be fine."
Most of the poor still have to pay property and sales taxes, tolls and other fees that are still considered revenue to their state or local governments.
In the past 6 years, 95% of all economic gains went to the top 1%. Man millionaires and billionaires are paying no tax whatsoever.
Had the minimum wage kept up with productivity output since the 1960's, it would have been $22.75 today.
History has repeatedly shown that raising taxes on the wealthiest Americans always results in stronger economic growth and poverty reduction.
Over the past 50 years, over 40 million jobs were created under Democrat presidents, compared to only 20 million jobs created under Republican presidents.
Reagan cut taxes on the rich, made it difficult for unions to have influence and power, and convinced businesses and people to shift from pensions to 401k plans. None of these things made life better for anyone.....other than rich people.
No surprise.
Propping up the housing market resulting in a burst bubble, weakening of the dollar, policies that hurt the middle class and create more poor... yet we keep voting for the same types of politicians over and over. Why?
I agree with the article except for the power of American unions.
As stated over and over American Unions have embraced corruption and have become the greedy entities they so despise.
Quote:
There are “two overlapping sets of institutions” in Germany that guarantee high wages and good working conditions for autoworkers. The first is IG Metall, the country’s equivalent of the United Automobile Workers. Virtually all Germany’s car workers are members, and though they have the right to strike, they “hardly use it, because there is an elaborate system of conflict resolution that regularly is used to come to some sort of compromise that is acceptable to all parties,” according to Horst Mund, an IG Metall executive. The second institution is the German constitution, which allows for “works councils” in every factory, where management and employees work together on matters like shop floor conditions and work life. Mund says this guarantees cooperation, “where you don’t always wear your management pin or your union pin.”
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no way USA!!!
